Law Firm Extends Stay in Long Beach With 36 KSF Renewal
The office tower last traded a decade ago.
Behar Gibbs Savage Paulson, a civil defense litigation firm, has renewed its 35,754-square-foot lease in Long Beach, Calif. The firm will continue to occupy the top two floors at One World Trade Center. JLL represented both parties in the lease transaction.
A joint venture between Greenlaw Partners and Walton Street Capital purchased the 574,981-square-foot office building for $106 million from SteelWave a decade ago. The partners also invested $25 million in the property’s renovation. Upgrades included a recreation room and an improved outdoor area, among other modernization efforts. SAA Interiors + Architecture handled the project’s design.
The 27-story building features office and retail space. It was constructed in 1989, Yardi Research Data shows. Behar Gibbs Savage Paulson has occupied the top two floors of the building for the last 35 years.
The law firm has seven other offices in the neighboring areas and across California, including locations in Silicon Valley, Sacramento, the Inland Empire and San Diego.
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JLL Managing Director Mike McKeever represented Behar Gibbs Savage Paulson LLP, while Managing Director Jason Fine negotiated on behalf of Greenlaw Partners/Walton Street Capital.
Located in the heart of downtown Long Beach, the office building is about 25 miles from Los Angeles and less than 10 miles from Long Beach Airport. Both the Pike Outlets and the Aquarium of the Pacific are within a mile of the property.
In the Los Angeles area, law firms and financial companies have accounted for most of the office space absorption over the last two years, The Real Deal reported. Law firm leasing rose to 4.6 million square feet since the beginning of 2025.
A top spot for office space investments
Yardi Research Data ranks Los Angeles as one of the top metros in the U.S. for office sales volume, with an average price of $281 per square foot. Asking rents also remain higher than the national average at $41.93 per square foot, with new construction totaling 2.7 million square feet.
Last month, Blackstone, in a joint venture with Worthe Real Estate Group, sold a 39-acre mixed-use property to Related Fund Management and Newland Capital Group for $120 million. The industrial and office property spans 1.8 million square feet, having previously served as Forever 21’s headquarters.
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